Commentary

Elaine Wah

Modern Markets, Modern Metrics - A Blog By IEX

In this blog by IEX's Elaine Wah, the newest public exchange looks to refute public claims that the metrics it uses are designed to inflate its own volume numbers and mislead people.

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December 1, 1999

Fast Track

By John A. Byrne

PrimeVest Financial Services in St. Cloud, Minnesota hired Todd Buchwald as an equity trader. He was previously with Primerica, a subsidiary of Citigroup, for five years.

SunTrust Equitable in Nashville added three Nasdaq traders: Malcolm Prochaska joins as a managing director and Suzy Davy as a vice president. Both were previously with Wheat First Union. Lee Patton from J. C. Bradford comes on board as a vice president. All three report to Michael O'Boyle, managing director of Nasdaq trading.

Dan Fitzpatrick left Cowen & Company to join the Jeffries Group in New York as a senior OTC trader.

McDonald & Co. in Cleveland named Dan Hogan as a senior trader. He previously ran the trading desk at First Albany.

Warburg Dillon Read in Stamford appointed Scott H. Saber as head of marketing for Equity Client Technology in North America. Saber, a former vice president of Morgan Stanley's Institutional Equity Division, will develop execution analysis and other online services for Warburg's Trading & Research Sales unit. He will report to Huw Jenkins, co-head of U.S. Equities and John Woodman, managing director of equities in Europe.

Craig Leppla, formerly with Commonwealth Associates, joined Ladenburg, Thalmann in New York to head up their seven-person trading desk.

Howard J. Schwartz, Chairman and CEO of Lynch, Jones & Ryan in New York was elected to the board of trustees of the Securities Industry Association.

He will serve a two-year term ending in May 2001.

John Whiptle joined the Boston-based firm of Adams, Harkness & Hill as an OTC trader. He was previously with the Boston Stock Exchange.

Capital Markets Company, a global business and technology solutions provider, added two new partners in its New York office: Stuart Feffer and Christopher Kundro. Both come from Deloitte Consulting. Feffer and Kundor will develop and implement business, financial, technology, and operations strategies for financial institutions.

James M. Quinton left the Avalon Research Group to join Auerbach, Pollak & Richardson in Providence, R.I. as a vice president of institutional sales.

Volpe Brown Whelan in San Francisco added eight new traders, bringing its total headcount to 27.

Jerald Pawlowski, a former hockey coach at Harvard University, is joining the firm as a sales trader.

Todd Clark and Patti Regan, both from Charles Schwab, will work as listed traders, while Jeff Stefenson, also from Schwab, will join as a sales trader. Three new OTC traders include: Aaron Travis, formerly of Hambrecht & Quist, Jack Monopoli from Robertson Stevens, and Todd Wodek from H.C. Wainwright.

Alok Reejhsinghani, previously with J.P. Morgan, will be a convertible trader and Lynn Challenger, previously self-employed, will trade options at Volpe Brown Whelan.

Dain Rauscher Wessels in Minneapolis named Joe Ali as head of equity trading. He previously ran the Nasdaq trading desk. Ali oversees over 30 traders, including 5 listed and 22 Nasdaq traders.

Josephthal & Co. in New York tapped David H. Kronenberg, formerly of Lehman Brothers, to become the firm's new chief administrative officer. David Strauss is joining the firm's Capital Markets Division as managing director, syndicate. Strauss comes from CIBC Oppenheimer, where he held a number of different positions over the past 37 years. Most recently, he was executive director of its syndicate department.

Knight Securities in Jersey City hired two OTC traders: Jeremy Cooperstein from First Union and Stephen Rosenblum from Schroder & Co.

Michael A. Cormack joined Archipelago Holdings in Chicago, the electronic communications network (ECN), as national sales manager. Cormack was previously manager of equity trading for American Century Investments. "He brings to our company his vision and understanding of the efficiency and fairness of electronic trading and how it benefits investors," said Gerald Putnam, chief executive officer of Archipelago.